Contact us Tenant Log-in Search

Our Approach

Managing Sustainability

We encompass the core strands of sustainability – environment, social and economic performance within a bespoke management system which includes the basic elements of a policy, identification of risks and opportunities, measurable objectives and targets, an audit programme and reporting.

Materiality

Historically we have identified our key sustainability risks and opportunities andhave summarised them as follows:

Environment: the re-use and careful management of existing buildings is inherently sustainable. In addition, reducing the running costs of the buildings and improving their operational efficiencies is essential to attract tenants, as well as meet future regulatory requirements.

Community: engaging with community groups and charities to ensure we integrate with our community.

Stakeholders: engaging with our tenants, investors and principal advisors ensures that we are aware of their expectations and can respond accordingly. In particular, we work with tenants to identify ways in which they can use our buildings more efficiently and operate in a more sustainable manner.

Working closely with our suppliers enables us to control our potentially most significant impacts and facilitate better standards of service through our supply chain.

Employees: investing in the welfare and development of our employees ensures high standards of performance and continuing low turnover of employees. In 2016 we decided we wanted to formalise a materiality assessment for the business using the following stepped approach:

  • External review – a review of external influence, views of investors, benchmarking indices, activities of our peers and other companies to provide the basis for identifying the issues that are material to the business now and in the future.
  • Internal review – the findings from the above reviewed internally by the Sustainability Committee and then an internal workshop to establish the relative importance of the issues to our business balanced with the perceived importance to stakeholders. 

The result is a materiality matrix confirming our priority issues (see below). Out of 19 possible environmental and 19 possible social issues the top 10 issues were identified as: Community, central London air pollution, living wage, health & safety both internally and externally, infrastructure, greenhouse gas emissions, human rights, waste, material use and biodiversity. The Sustainability Committee reviewed these and agreed they remain valid. Our broad strategic goals are still valid and will continue to form the framework of our approach. We will continue to  focus in the forthcoming year to address these issues as a priority.  

 

Structure

We have a robust Sustainability Policy which is reviewed annually by the Board and is available to the public on the company website. We have a Sustainability Committee. Chaired by our Chief Executive, it includes members of the management team and the Company Secretary, it meets on a quarterly basis to define objectives, agree strategies and review progress. Below Board- level, individuals are identified for the implementation of specific aspects of the Policy through the annually updated Action Plan and this includes managing agents and project managers working on the portfolio on our behalf. Penny Thomas, as Company Secretary, reports directly to the Chief Executive and the Board and coordinates the reporting and progress of the Action Plan.

In support of the overall Sustainability Policy are appended various other policies including those relating to bribery and anti-corruption, equal opportunities, health & safety and whistleblowing.

Reporting Chain

Managing the Supply Chain

As a property investor, our most significant impacts could be considered to occur through our supply chain. This includes the management of our portfolio on a daily basis and the refurbishment of new properties. If not responsibly managed, we could inadvertently contribute to significant environmental impacts, through factors such as the use of energy at these sites, waste produced and materials used.

We employ agents to manage the portfolio and project managers to oversee the refurbishment activities. The company has systems set up in order to integrate environment and social/ethical factors into the procurement process of new services and into the ongoing work of our long-term contractors and sub contractors as set out below.

Contractual Information

Key information relating to sustainability requirements is included within contractual information throughout the supply chain.

Shaftesbury’s Estate Management Services Specification includes clauses requiring the contractor to act in accordance with our environmental and sustainability policies and to ensure all contactors, consultants and advisors engaged on the portfolio are aware of and observe the policies.

Use of Sustainability Policy

  • Issued to all key advisors.
  • Included as standard in all contract documentation issued by the project managers for refurbishment projects.
  • Issued by the project managers to subcontractors working on refurbishment projects above a capital sum of £150,000.
  • Issued by the managing agents to key subcontractors working on the managed portfolio.
  • Issued to commercial tenants as part of the tenant’s pack.

Use of Supplier Code of Conduct

  • Issued to all key advisors.
  • Included as standard in all contract documentation issued by the project managers for refurbishment projects.
  • Issued by the managing agents to key subcontractors working on the managed portfolio.

Use of Contractor’s Induction Leaflet

  • Issued by the project managers to all subcontractors working on refurbishment projects.
  • Issued by the managing agents to contractors working for the managed portfolio.

Annual Sustainability Audit

Undertaken annually each year by external advisors, RPS, and includes interviews with Shaftesbury personnel, managing agents and project managers as well as sample site visits.

The managing agents are required to sign a Management Representation Letter attesting to the quality and robustness of the data they provide and acknowledging their responsibilities for accounting and Quality Assurance. 

Annual Sustainability Seminar

Annual presentation of findings of the sustainability audit to all Shaftesbury employees and all project managers, managing agents and other key advisors working on our portfolio, which provides both a training exercise as well as an opportunity to agree achievable objectives and targets for the forthcoming year.

Use of the Considerate Constructors Scheme (CCS)

All refurbishment schemes above a capital value of £150,000 are required to sign up. Principal contractor companies are also expected to register as a company with the CCS. Compliance with the Code incorporates a number of factors including environmental and social considerations important to the overall sustainability goals.

Compliance with the scheme involves achieving a score of 25/50 and Shaftesbury sets a more stringent target for its contractors of 30/50.

Use of Checklists / Legislation Guides

Issued at the opening meeting of each refurbishment project by the project managers and updated regularly to reflect new legislation and best practice. The checklists are completed during the course of the project and the project team is also required to submit supporting documents, such as the CCS audit report, waste Duty of Care information, Chain of Custody information for timber etc. Checklists include an overall reporting checklist, a contractor’s checklist and a specification checklist. Legislation guides are also provided.

Use of BREEAM

It is a company objective that any new build office development will aim to achieve Building Research Establishment’s Environmental Assessment Method (BREEAM) Very Good. Whilst we do not require the formal certification of refurbishment schemes to BREEAM, the sub-contractor checklists are designed to follow the principles of the scheme and to encourage environmental and social factors to be considered during design, specification and refurbishment works. 

Verification

Third party verification of greenhouse gas emissions. 

Sustainability

Policies and Reports

Sustainability Policy